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that in terms of the deficit, we have cut the budget deficit by 25%. you will get an update of the progress in a minute. how on earth, can you deal with a borrowing problem when pledging to borrow more? >> let's be clear, mr. speaker, about his answer on 50 p. the answer to the problem -- the answer to the problem of tax avoidance is to give the people doing it a tax cut. that is the answer he gave. give them a big giveaway and the reality is -- the reality is that the prime minister couldn't get away from, the deficit going up, not down on his watch. we remember the posters with his air brushed face saying i will cut the deficit not the n.h.s. the facts speak for themselves. he has cut the n.h.s. and he's not cutting the deficit. he is 100% wrong. >> we're increasing the n.h.s. and we've cut the deficit. business are starting up at a higher rate than any time in our history, this economy is on the right track. unlike the party opposite we're on the side of people who work hard and do the right thing. what is his answer? more borrowing, more spending,
that in terms of the deficit, we have cut the budget deficit by 25%. you will get an update of the progress in a minute. how on earth, can you deal with a borrowing problem when pledging to borrow more? >> let's be clear, mr. speaker, about his answer on 50 p. the answer to the problem -- the answer to the problem of tax avoidance is to give the people doing it a tax cut. that is the answer he gave. give them a big giveaway and the reality is -- the reality is that the prime minister...
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Dec 5, 2012
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last year the deficit was 7.9%. this year with the apf coupons it is forecast to be 6.9%, but that excludes the aspect of the royal mail pension access. it will fall to 5.2% the year after, 4.2 president in 2015-'16, before reaching 1.6% in 2017-'18. in 2009-'10 the country was borrowing 159 billion pounds. this year we are borrowing 108 billion pounds. that is forecast to fall to 99 billion next year, 88 billion the year after, then 73 billion in 2015-'16 and 49 billion and 31 billion in the two years around that. these are the central forecasts published by the opr with the asset purchase facility cash transfer included. when the transfer is excluded, as we show in the document, the deficit also falls from 7.9% last year to 7.7% this year, then 6.9% next year and falls in every single year after that. and cash borrowing falls in every year as well. now, there are those who have been saying that the deficit was going up this year. indeed, i think i heard it in prime minister's questions. but any way you present the
last year the deficit was 7.9%. this year with the apf coupons it is forecast to be 6.9%, but that excludes the aspect of the royal mail pension access. it will fall to 5.2% the year after, 4.2 president in 2015-'16, before reaching 1.6% in 2017-'18. in 2009-'10 the country was borrowing 159 billion pounds. this year we are borrowing 108 billion pounds. that is forecast to fall to 99 billion next year, 88 billion the year after, then 73 billion in 2015-'16 and 49 billion and 31 billion in the...
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the deficit. we have cut the deficit by 25%. there are a million more private sector jobs. businesses are starting at higher rate than any time in our history. this economy is on the right track. we are equipping britain for the global race and on like the party opposite we are in the side of people who work hard and want to do the right thing. what is the answer? more borrowing, more spending, more of the things that got us into this mess in the first place. >> mr. speaker, years ago the nhs spent five hundred million pounds on tamiflu without seeing the day on the effectiveness or safety and rather than being an isolated case it is normal for the drug industry to have almost complete control over the evidence based upon which crucial public decisions are made. will the prime minister asked to make available the full chemical study reports on tamiflu so the doctors, patients and taxpayers are not misled? >> my hon. friend does excellent work on behalf of the taxpayer through all of the very good
the deficit. we have cut the deficit by 25%. there are a million more private sector jobs. businesses are starting at higher rate than any time in our history. this economy is on the right track. we are equipping britain for the global race and on like the party opposite we are in the side of people who work hard and want to do the right thing. what is the answer? more borrowing, more spending, more of the things that got us into this mess in the first place. >> mr. speaker, years ago the...
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so he said it's fantasy that there is going to need to be economic pain in reducing long term deficit i agree with him on that i'm glad he is if you are going to be out and i'm glad he's out saying things like this whether to become mr realism whether you become mr whalen you left office yeah he was no longer i don't know he did official. this. you know alan greenspan has gotten off the hook like there's one person that's walked away when the financial crisis happened but he got a little bit of flack but that's it you know he hasn't got and still of there are a lot of people out there that you know you couldn't do didn't know what industry should be or whether they were too hard too low i'm just i think there's one guy that's gotten away with more like bush did a lot. a lot i know i think that this i think i mean i think it's unfortunate that the fiscal cliff has become such a den of coverage because i think major points are lost and it's interesting one that i want to highlight that is worth noting so steve kean our guest our frequent guest was actually on the hill yesterday for a co
so he said it's fantasy that there is going to need to be economic pain in reducing long term deficit i agree with him on that i'm glad he is if you are going to be out and i'm glad he's out saying things like this whether to become mr realism whether you become mr whalen you left office yeah he was no longer i don't know he did official. this. you know alan greenspan has gotten off the hook like there's one person that's walked away when the financial crisis happened but he got a little bit of...
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deficit crisis. the lock of the ability to really get a serious recovery going as long as that much there are a lot of studies showing that the higher the debt a lot of those the low should really have a growing economy kenneth rogoff and carmen reinhart came out with that salary debt overhang to yeah so i mean just that so then what do you think are the lessons from seventeen seventy five you know we're winding see what was going on and fast forward to today what can we learn from from the politics of the time and the bold moves of the dime that they can inform the u.s. that is. facing such economic problems well. barack obama. was acquainted with some of the larger dimensions of the problem of how other countries like the british and the dutch previously had gotten in this kind of trap and he was well aware that he decided to take a somewhat happy talk if you won two thousand and nine. because the democratic politicians convinced them to get on the right track with democratic economics and will sol
deficit crisis. the lock of the ability to really get a serious recovery going as long as that much there are a lot of studies showing that the higher the debt a lot of those the low should really have a growing economy kenneth rogoff and carmen reinhart came out with that salary debt overhang to yeah so i mean just that so then what do you think are the lessons from seventeen seventy five you know we're winding see what was going on and fast forward to today what can we learn from from the...
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Dec 10, 2012
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we run up a large deficit when we have a slump and run up medium-sized deficits in times of prosperity. the u.s. government is spending about $3.6 trillion this year. federal spending has gone up at roughly twice the rate of economic growth. interest payments are temporarily manageable. but interest rates are at historic lows and likely to go up. our current situation is in no way comparable to that of the '40's when the national debt grew to an amount nearly equal to annual gdp. once the war ended, spending went down and the u.s. proceeded to grow at a greater than 4% annual rate for 20 years. that took care of the deficit or the debt with the problem. today, everything points in the other direction. interest rates are likely to go up. demand for further spending will increase for reasons i will get to a minute. state and local governments rely on federal transfers to balance their books. the state of california spends money out of the general fund and get money in terms of federal transfers from various programs. they depend on that money. i won't get in to the whole question of the
we run up a large deficit when we have a slump and run up medium-sized deficits in times of prosperity. the u.s. government is spending about $3.6 trillion this year. federal spending has gone up at roughly twice the rate of economic growth. interest payments are temporarily manageable. but interest rates are at historic lows and likely to go up. our current situation is in no way comparable to that of the '40's when the national debt grew to an amount nearly equal to annual gdp. once the war...
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we cannot cut your way to deficit reduction. what reduces the deficit are jobs. job creation. after spending cuts, and medicare saving, and next is the revenue. >>reporter: leader pelosi spent time at the white house today meeting with president obama on what we are told are a number of issues. >>shepard: thank you, mike, from washington, dc. we know that business collects information from us when we go to our website our mobile apps. usually it is legal. there is a new law that requires companies to notify you if it is taking information from you. to law is about to be put to the test. i got word in the last 30 seconds and a ruling from the supreme court, a decision from the supreme court, actually, on whether it will hear a same-sex marriage case and the constitutionality of that. the answer is "yes" the court has notified us. all energy development comes with some risk, but proven technologies allow natural gas producers to supply affordable, cleaner energy, while protecting our environment. across america, these technologies protect air - by monitoring air quality and redu
we cannot cut your way to deficit reduction. what reduces the deficit are jobs. job creation. after spending cuts, and medicare saving, and next is the revenue. >>reporter: leader pelosi spent time at the white house today meeting with president obama on what we are told are a number of issues. >>shepard: thank you, mike, from washington, dc. we know that business collects information from us when we go to our website our mobile apps. usually it is legal. there is a new law that...
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Dec 6, 2012
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this produces a kind and the deficit without to the deficit afterwards. the previous government has classified the management is off balance. today, it is on the balance sheet in line with the judge. it adds pounds to our debt and reminds us of the price the country it's okay for the failures of the past. [cheers] government has decided with the agreement of the bank of england to transfer excess cash held in the asset purchases will be. this is runcible cash management and is i line with the bank of japan is a reserve. and while some of the burden of this is more transparent than the previous approach. i want to make sure pact on the figures is completely transparent. we canassesses with and without the impact of the decision. mr. speaker, when cato office, the deficit stood at 11.2%, the highest in ur peacetime history. it was forecast to be the largest of any major ecom the world. in theast two years, th decit has fallen. today's figures show that with or without, the deficit is forecast to fall this year as well. cash borrowing is expected to fall too
this produces a kind and the deficit without to the deficit afterwards. the previous government has classified the management is off balance. today, it is on the balance sheet in line with the judge. it adds pounds to our debt and reminds us of the price the country it's okay for the failures of the past. [cheers] government has decided with the agreement of the bank of england to transfer excess cash held in the asset purchases will be. this is runcible cash management and is i line with the...
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Dec 4, 2012
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the goal is not to get rid of the budget deficit. i don't think anyone who's involved in this process has a realistic hope of getting rid of the budget deficit. that they would love to get it down to a manageable level. when you talk about that, certainly opinions differ. you can make a big, big dent in the unmanageable part of the deficit with closing or reducing loopholes. >> host: do you expect to see them play a role in negotiation and talks? you mention how there is a group advocating for everyone of these deductions, people are used to getting them. could they end up on the chopping block? >> guest: they are on the table. republicans put them on the table and say we'd rather do this. but rather get rid of tax breaks that raise rates. in the end, you probably will see some of those. this is a process that will go on for the better part of the year. said during the process of negotiating a deal, you'll see some of those. >> host: john mckinnon is a reporter for "the wall street journal." we are talking about tax loopholes and ded
the goal is not to get rid of the budget deficit. i don't think anyone who's involved in this process has a realistic hope of getting rid of the budget deficit. that they would love to get it down to a manageable level. when you talk about that, certainly opinions differ. you can make a big, big dent in the unmanageable part of the deficit with closing or reducing loopholes. >> host: do you expect to see them play a role in negotiation and talks? you mention how there is a group...
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and he ran on a plan by saying that those savings would then be aplayed to deficit -- applied to deficit reduction, which we know is so critical. and we saw what people thought about that. he was reelected by a wide margin. the american people want us to come together, to work together in a bipartisan way to reduce the deficit, and they support the approach that starts by making sure that middle-class families are not once again asked to pay for the full burden of what needs to be done. they support an effort that says, extend tax cuts for middle-class families and ask those at the very top, who have gotten extra tax cuts, to forego those and chip in to be part of the larger deficit reduction solution. unfortunately, yesterday, speaker boehner ignored this when he offered a republican counterproposal to the president's proposal that would essentially raise taxes on middle-class families and cut medicare for our senior citizens. as senator reid said yesterday, it flunks the test of balance. to get the kind of revenue to reduce the deficit that is needed, and that we all agree on has to be
and he ran on a plan by saying that those savings would then be aplayed to deficit -- applied to deficit reduction, which we know is so critical. and we saw what people thought about that. he was reelected by a wide margin. the american people want us to come together, to work together in a bipartisan way to reduce the deficit, and they support the approach that starts by making sure that middle-class families are not once again asked to pay for the full burden of what needs to be done. they...
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we went into deficits, deficits as far as the eye could see. deeper and deeper in debt. so you might ask, then, "senator boxer, why are you now supporting those tax cuts being renewed for 98% of the people?" and the answer is, it's a different time and a different place. we're getting out of a recession and we can make up the moneys we need to balance this budget by going just to the top rate, going to the people over $250,000. remember, this plan that we passed in july -- if we could go back to that chart -- that gives a tax break on the first $250,000 of income. and, in essence, giving everybody a tax break on that first $250,000. it's only after that that the taxes go back to clinton era. and because this is a different time and place, i support giving a tax break, continuing it for 98%, but asking the wealthiest to pay their fair share for the greatest country on the face of this earth. my father was born into dire poverty. he was the only one of nine children born in america. he was the only one of nine children to go to college at night in your great state, madam p
we went into deficits, deficits as far as the eye could see. deeper and deeper in debt. so you might ask, then, "senator boxer, why are you now supporting those tax cuts being renewed for 98% of the people?" and the answer is, it's a different time and a different place. we're getting out of a recession and we can make up the moneys we need to balance this budget by going just to the top rate, going to the people over $250,000. remember, this plan that we passed in july -- if we could...
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Dec 3, 2012
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based on the recommendations of the president's deficit reduction commission but the president could disagree. the republicans say the plan would raise $800 million through tax reform but not by phasing out the upper income bush tax cuts and before the plan was announced, white house press secretary insisted the rates will not make it to the new year. >> he will not sign a bill that extends those tax rates for the top 2 percent. we cannot afford it. it is not wise economic policy. not wise fiscal policy. it would defeat the principle of balance that he has embraced. >> the president wrapped up an hour long twitter session promoting what he called a balanced approach, as far as deficit reduction. >>shepard: is this posturing? >>reporter: well, it is, this great measure. each side wants to blame the other. and not just if we go over the cliff, but if they do reach an agreement, each side wants the other to take the blame for the parts of the ultimate compromise their constituents don't like. right now the negotiations are nowhere, and the white house has not put a serious offer on the
based on the recommendations of the president's deficit reduction commission but the president could disagree. the republicans say the plan would raise $800 million through tax reform but not by phasing out the upper income bush tax cuts and before the plan was announced, white house press secretary insisted the rates will not make it to the new year. >> he will not sign a bill that extends those tax rates for the top 2 percent. we cannot afford it. it is not wise economic policy. not...
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he has he has not met his targets he is not going to deal with the deficit as he said the road growth we grow and also there's going to be a huge cart made in benefits pavement to some of the poorest people in the conclave are going to suffer the most i was resolved to go. and there's no end to this will start now i want to talk to you about that because we saw that just one percent for the benefit of the welfare bill and that's less than inflation you know that's really going to hit a huge. number of books forty seven billion pounds. and we're talking about farmers is a really on the bread line anyway even losing ten twenty pounds is a big hit i mean it's a very cold outside and it's a very cold prospect for britain's poor because they are going to bear the brunt of the start of course by christmas by also doesn't know what he's doing thank you very much for joining us also say there's a lot of course the concern as he said them on picking through the thing is one thing cutting through all the waste and that's the case is going to have to pray so even talk. even more. well that with
he has he has not met his targets he is not going to deal with the deficit as he said the road growth we grow and also there's going to be a huge cart made in benefits pavement to some of the poorest people in the conclave are going to suffer the most i was resolved to go. and there's no end to this will start now i want to talk to you about that because we saw that just one percent for the benefit of the welfare bill and that's less than inflation you know that's really going to hit a huge....
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a deficit that was originally due to last five years is now due to last eight years and we now know that debts will be higher as a share of g.d.p. by the end of the parliament than it was at stopping that result of policies. by the kurdish government which. tightened policy to foster and that has resulted in lower growth and high authority he would claim of course this is a policy that was pursued by blair and brown and the previous labor government this is the legacy that they have left behind creating such a massive debt in the first place oh look of course it's true that there had to be some spending cuts they have to be done in balance measured way that doesn't. hurt the economy more than necessary and. the last thing that you should do in times of economic weakness is to comic spending at such a fast rate because when consumers aren't spending because that. column when business is the hoarding cash it's actually the government that has that has to spend to get growth going and if you don't have growth then you weren't reduce your definitely doing that george five billion pounds on b
a deficit that was originally due to last five years is now due to last eight years and we now know that debts will be higher as a share of g.d.p. by the end of the parliament than it was at stopping that result of policies. by the kurdish government which. tightened policy to foster and that has resulted in lower growth and high authority he would claim of course this is a policy that was pursued by blair and brown and the previous labor government this is the legacy that they have left behind...
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the deficit is down. borrowing is down. jobs are being created. it is a hard road, but we are making progress. everything that we do, we are helping those who want to work hard and get along. thank you. [cheers] [cheers] >> mr. speaker, today after 2.5 years, we can see and people can feel in the country the scale of this government economic failure. [cheers] our economy this year is contracting. the conferred government borrowing is revised this year and every year. the national deficit is not rising. excuse me, it is rising, it is not falling. [cheers] i will say again that our economy is contracting this year. government rowling is revised up and the national debt is rising. it is not falling. there are people struggling to make ends meet. middle and lower income families who are paying the price. where millionaires get a tax cut and a 3 billion-pound welfare handout to the people who need it. let me spell out the facts. you might learn something. [cheers] [applause] [cheers] >> in june of 2010, our economy would grow by 2.8% this year. in marc
the deficit is down. borrowing is down. jobs are being created. it is a hard road, but we are making progress. everything that we do, we are helping those who want to work hard and get along. thank you. [cheers] [cheers] >> mr. speaker, today after 2.5 years, we can see and people can feel in the country the scale of this government economic failure. [cheers] our economy this year is contracting. the conferred government borrowing is revised this year and every year. the national deficit...
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durbin said social security hasn't added a dime to the deficit. in 2012 it added $160 billion of debt. that is more than a dime. there are 2.5 trillion in the trust fund in social security that will take care of it for 20 more years, 25 more years. that means pieces of paper in the trust fund where the treasury says we will pay you. it doesn't have the money. it spent surpluss in the past. that's a promise from the treasury which is pank ru bankrupt. that is infection but they know it. the republicans are bad guys these are good guys. surprising to me the president wokd get the revenues he wants from de deductions and exclusions. it is on rates not for economic reasons but political. he wants to break the backs of republicans. it this is a continuation of his campaign he thinks he wants it and now he wants to drive the steak through it. it is all about politics nothing about economics. >> democratic congressman chris van holland appeared on special report. there are cuts to the president's budget but republicans haven't paid attention to them. >>
durbin said social security hasn't added a dime to the deficit. in 2012 it added $160 billion of debt. that is more than a dime. there are 2.5 trillion in the trust fund in social security that will take care of it for 20 more years, 25 more years. that means pieces of paper in the trust fund where the treasury says we will pay you. it doesn't have the money. it spent surpluss in the past. that's a promise from the treasury which is pank ru bankrupt. that is infection but they know it. the...
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the problem is the deficit. i know i've gotten a lot of hate mail from both the right and the left -- >> no, you're being honest. >> the fact of the matter is, we have to balance the budget. we've been in an economic recovery for three years. we're not where we ought to be. the longer you put this big deficit on, the harder it's going to be later on. >> katie, i'm sorry but lost you for a minute. i'm worried, katie, because the gop is in an unenviable political position after the election, because they're not talking about enough spending and entitlement cuts, what you hear is defending tax cuts for the rich. in other words, the gop is becoming the party of rich people and that's not where they ought to be. >> the problem is marketing. and republicans have had a big problem with marketing since the ronald reagan days. they need to get on the ground and talk about how these tax cuts affecting the rich will affect the middle class. democrats have been getting away with saying that the rich are the ones who need to
the problem is the deficit. i know i've gotten a lot of hate mail from both the right and the left -- >> no, you're being honest. >> the fact of the matter is, we have to balance the budget. we've been in an economic recovery for three years. we're not where we ought to be. the longer you put this big deficit on, the harder it's going to be later on. >> katie, i'm sorry but lost you for a minute. i'm worried, katie, because the gop is in an unenviable political position after...
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the congressional budget office just announced that the federal budget deficit for the last two months hit $292 billion. if we were to keep spending more than we take in at that rate america would add another $1.7 trillion to the national debt by this time next year. ironically this comes just about one hour after republican house speaker john boehner held a news conference suggesting that the president has been unwilling to compromise on a deal to cut our debt and complaining about washington's, quote, spending program. >> there are a lot of things that are possible to put the revenue that the president seeks on the table, but none of it is going to be possible if the president insists on his position. insists on my way or the highway. that's not the way to get to an agreement that i think is important for the american people and very important for our economy. alisyn: the bitter partisan fight over the debt deal even came up in a surprising way at last night's national tree lighting ceremony in washington. during a rendition of santa claus is coming to town one of the musicians pause
the congressional budget office just announced that the federal budget deficit for the last two months hit $292 billion. if we were to keep spending more than we take in at that rate america would add another $1.7 trillion to the national debt by this time next year. ironically this comes just about one hour after republican house speaker john boehner held a news conference suggesting that the president has been unwilling to compromise on a deal to cut our debt and complaining about...
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rajoy has warned it will achieve the deficit target agreed with the eu. he said he couldn't guarantee there would nobody further spending cuts and he would not have any doubts about using the ecb's omt program, though of course with yields where they are at the moment, they don't have to. in fact we spoke to patrick garvey a little bit earlier today that suggests that the risk-on theme for debt will continuum at least the end of january. remember, spain will have another batch of pre-funding for 2013 later this week on thursday. otherwise that's it for today's edition. coming up, the first "squawk box" of the week and countdown to the open of markets state side. whatever happens, we hope you have a profitable day. [ male announcer ] this december, remember -- what starts with adding a friend... ♪ ♪ ...could end with adding a close friend. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. tis the pursuit of perfection. >>> good morning. today's top stories. fiscal cliff hanger. there's now less than a m
rajoy has warned it will achieve the deficit target agreed with the eu. he said he couldn't guarantee there would nobody further spending cuts and he would not have any doubts about using the ecb's omt program, though of course with yields where they are at the moment, they don't have to. in fact we spoke to patrick garvey a little bit earlier today that suggests that the risk-on theme for debt will continuum at least the end of january. remember, spain will have another batch of pre-funding...
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Dec 10, 2012
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um, the budget deficit, um, and then foreign policy. so the four top issues were the same in a slightly different order than they were for the rest of the electorate. um, the budget deficit and health care were in opposite places for the rest of the electorate. um, time it was a little more -- this time it was a little more those domestic issues, those domestic-driven issues than four years ago in my experience. again, part of that is where the media was focused, and the nature of the spanish-speaking community in south florida that's particularly foreign policy driven. but this time even that community wasn't -- and to the extent i was talking about foreign policy, i was talking about benghazi rather than cuba. >> last question, you didn't use the word immigration. immigration was not in that -- >> it came up a little, it came up -- >> a little bit. >> it came up a little bit, and it came up in the following way, um, people wanted to know that the president cared about the issue. they wanted to understand why it hadn't been achieved in
um, the budget deficit, um, and then foreign policy. so the four top issues were the same in a slightly different order than they were for the rest of the electorate. um, the budget deficit and health care were in opposite places for the rest of the electorate. um, time it was a little more -- this time it was a little more those domestic issues, those domestic-driven issues than four years ago in my experience. again, part of that is where the media was focused, and the nature of the...
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grapples with massive debts and deficits current budget reductions will do little to reduce military firepower. or cut prices defense contracts. in los angeles ramon the lindo party. and now to a story of innovation under pressure weapons research a man not schroeder discovered via a freedom of information act request during a war in iraq and iraq in. surgeons found novel ways to make old weapons like new these photos show troops in iraq playing around with some do it yourself rocket launchers including one that uses a person's head as the launching pad shorter believe the photo is from two thousand and nine an improvised rocket launchers used parts from russian made rockets taken from saddam era stockpiles iraqi militants are the only ones playing with playing macgyver with any weapons they can get their hands on arms specialists have seen similar ingenuity coming from libya in syria and there's more news from syria today the federal register including the syrian rebel group jots all nusra on its list of terrorist organizations the state department said the job at all nusra has ties
grapples with massive debts and deficits current budget reductions will do little to reduce military firepower. or cut prices defense contracts. in los angeles ramon the lindo party. and now to a story of innovation under pressure weapons research a man not schroeder discovered via a freedom of information act request during a war in iraq and iraq in. surgeons found novel ways to make old weapons like new these photos show troops in iraq playing around with some do it yourself rocket launchers...
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would gold be more desirable to them as a currency versus countries like the us that run enormous trade deficits wouldn't they really benefit from staying on the out currency and to eternity and really not ever want to move away from it. look if you could trust and currency there wouldn't be a problem with it but we can't trust in the our currency and we can see day to day practically why we can't trust in the our currency into the fed will probably give us yet another reason not to trust and the currency at their next meeting the fact is be our currency is a moving target it is worth exactly what the issuer wants it to be worth no more no less they control it but if the rest of the world does not like the way it's being controlled if they don't trust the way it's being controlled well they prefer to use something else that cannot be arbitrarily devalue they cannot arbitrarily manipulated that cannot be defaulted on you can't a fault on gold it is what it is it was created by whatever god mother nature call it whatever you want and so there's a reason why the world ended up on the gold standard
would gold be more desirable to them as a currency versus countries like the us that run enormous trade deficits wouldn't they really benefit from staying on the out currency and to eternity and really not ever want to move away from it. look if you could trust and currency there wouldn't be a problem with it but we can't trust in the our currency and we can see day to day practically why we can't trust in the our currency into the fed will probably give us yet another reason not to trust and...
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Dec 5, 2012
12/12
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when i see a full deck of cards, that includes those participating in deficit reduction. it must be used over time and they can make very significant changes in the budget and do it in a way that does not damage our security. doing it abruptly as the fiscal cliff does, or any timeframe, it is not only inefficient, i think it endangers our security and our wrists. my final point is that missing element is primarily political will and i say that in regard to both political parties and the solution. the solution has to be forthcoming in the weeks ahead in the months ahead require our leaders and put our nation first. that has to be the primary focus of our political leadership. to put the interest of our country first. thank you for your leadership, thank you as well mike mullen. it is also a great privilege to be here with john warren and mr. isaac skelton. ,. >> thank you. thank you for putting this effort together. we thank admiral mike mullen, whose efforts have been outstanding for this effort. the late barbara -- barbara tuchman wrote a book entitled "march of folly."
when i see a full deck of cards, that includes those participating in deficit reduction. it must be used over time and they can make very significant changes in the budget and do it in a way that does not damage our security. doing it abruptly as the fiscal cliff does, or any timeframe, it is not only inefficient, i think it endangers our security and our wrists. my final point is that missing element is primarily political will and i say that in regard to both political parties and the...
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government finances huge deficit maxon stacy a haitian discuss the so-called hollywood accountant schemes the policy even more pressure on the economy here's a quick preview of the full kaiser report coming up later today. burgeoning as. that these are monies that are for pensions for police nurses you know hospital workers farman and this money that is taken out of their paycheck every week is put into these retirement funds and then the state intercedes they collateralized those funds back a bond which i'm sure the rating agencies moody's picture s. and p. of course i'm sure they gave a good rating and then the hollywood people came in and stole that money and then those people lose their pension accounts and you know one of the things in america that's really one of the greatest tragedies is how the firemen the policemen the workers the teachers the people who actually work for a living not steal money like on wall street are basically financially raped every single day by these people so. drug companies invest huge sums into creating new kinds of medicine to tackle the world's deadlie
government finances huge deficit maxon stacy a haitian discuss the so-called hollywood accountant schemes the policy even more pressure on the economy here's a quick preview of the full kaiser report coming up later today. burgeoning as. that these are monies that are for pensions for police nurses you know hospital workers farman and this money that is taken out of their paycheck every week is put into these retirement funds and then the state intercedes they collateralized those funds back a...
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Dec 8, 2012
12/12
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if we have a budget deficit at all, it is only fair. and you don't have to be -- again you don't have to be a republican, you can be a common sense republican to understand that this requires that the bush tax cuts not be extended for the richest 2%. it is finally getting through. and i think that, again, as richard said, you can be as clever as you want. you can make all kinds of pretensions. you can abstain, you can do whatever you want to do. this is going through. >> when we talk about abstentions and kibuki theater, that's obviously small ball. but the fact that the president and the vice president are saying we are not going to allow congress to have the power to fight another war over the debt ceiling. >> yeah. >> that to me is a real line in the sand. >> it is. >> republicans are not going to give that up without serious concessions from the democrats. what do you make of it? >> there are going to be spending cuts in this deal, right. this isn't just about tax cuts for the super wealthy. there will be spending cuts. this is wher
if we have a budget deficit at all, it is only fair. and you don't have to be -- again you don't have to be a republican, you can be a common sense republican to understand that this requires that the bush tax cuts not be extended for the richest 2%. it is finally getting through. and i think that, again, as richard said, you can be as clever as you want. you can make all kinds of pretensions. you can abstain, you can do whatever you want to do. this is going through. >> when we talk...
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Dec 4, 2012
12/12
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reduction, support adding to the deficit with high-end tax cuts. in rhode island at least, those are lousy priorities when it comes to deficit reduction. we should let the tax cuts at the top expire for reasons also of fairness. loopholes and special provisions allow many super high income earners to pay lower tax rates than many middle-class families. according to the nonpartisan congressional research service, 65% of individuals earning a million dollars or more annually pay taxes at a lower rate than median income taxpayers making $100,000 or less. 65%, nearly two-thirds, of individuals earning over a million dollars a year actually pay a lower tax rate than median income taxpayers do. that is a tax system that has turned upside-down and needs to be fixed. earlier this year, a majority of senators voted to advance my "paying a fair share act," the buffett rule bill to ensure that multimillionaire earners pay at least a 30% effective federal tax ray. the rate they're supposed to pay is 35% under the income tax laws but because of all these loopho
reduction, support adding to the deficit with high-end tax cuts. in rhode island at least, those are lousy priorities when it comes to deficit reduction. we should let the tax cuts at the top expire for reasons also of fairness. loopholes and special provisions allow many super high income earners to pay lower tax rates than many middle-class families. according to the nonpartisan congressional research service, 65% of individuals earning a million dollars or more annually pay taxes at a lower...
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european union is still is a fact that it was kind of to arise when a certain democracy is democratic deficits which means. to have a domestic process for the future i don't really think there is going to be a conflict or does want to be unethical but what i really thing is that i find a result the paradoxical final result of this wave or of this period of economic crisis could be the strengthening of the nation state and i think it will be a step backward and not a state for worse ok a lot of people say the solution for europe's problems is more europe ok but a lot of people on the ground are saying enough europe how do you square the circle well you need leadership of course the anxiety tells you i go back to the place where i feel comfortable the comfort zone is the nation state so far of course you have to ensure that there is a solution with more europe and not even more trouble i strongly believe in an economic crisis if america lentil on the end. of the names of the leaders are say we need to more coordinated these things people would agree and you make policy by policy you see that nor
european union is still is a fact that it was kind of to arise when a certain democracy is democratic deficits which means. to have a domestic process for the future i don't really think there is going to be a conflict or does want to be unethical but what i really thing is that i find a result the paradoxical final result of this wave or of this period of economic crisis could be the strengthening of the nation state and i think it will be a step backward and not a state for worse ok a lot of...
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we are the one that is are going to be handed down the $16 trillion deficit. it is hard for this to play out. they will come to some sort of a deal. you are going to see them come to a deal. you are going to see them with something sort of like the simpson bowles. >> pam has sent it to the public. that if it goes over the fiscal cliff republicans are prepared to make the middle class pay more tax paying more. and that is a very bad position for the republicans to find themselves in isn't it? >> sit a very bad position for them to find themselves in. the fact of the matter is, it isn't true. the taxes on the wealthiest americans, it doesn't address the core problems. the $16 trillion comes from government over spending and we have slow growth. raising the taxes on anybody whether it is on the poor or the other americans doesn't solve the problem. let's get in and figure out what the key problems are and solve those. i made an analogy earlier to giving a kid more allowance. i stopped paying them. >> i mean un believable. so kate, middleton, is in hospital with t
we are the one that is are going to be handed down the $16 trillion deficit. it is hard for this to play out. they will come to some sort of a deal. you are going to see them come to a deal. you are going to see them with something sort of like the simpson bowles. >> pam has sent it to the public. that if it goes over the fiscal cliff republicans are prepared to make the middle class pay more tax paying more. and that is a very bad position for the republicans to find themselves in isn't...
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. >> they instigated deficit reduction it has been tough times, britain with a double dip recession this year, so, it is all about shared sacrifice, everyone from the queen, doing their bit. neil: does the queen sacrifice? >> she seen as not taking -- but all about everybody on the budget. then you have starbucks that found out, you can't move the starbucks in britain, taking away a lot of traditional british tea shops have you starbucks. it has moved in over a third of coffee shops are starbucks. past 14 years starbucks paid lesser than 1% in corporate tax rates. neil: in britain. is it legal? >> it is legal, but the loopholes have to close, to be fair to starbucks, they realized this is p, suicide, they said we do need to pay more, it will be interesting whether google and amazon will follow. neil: i am not a fan of any company that is charges $7 for a cup of coffee. it has to be made out of gold. then you could not drink it i am wondering. it seems to me, there is a disproportionate emphasis on raising taxes, the rate they brought to $55, they over did the fees, and charges and excise
. >> they instigated deficit reduction it has been tough times, britain with a double dip recession this year, so, it is all about shared sacrifice, everyone from the queen, doing their bit. neil: does the queen sacrifice? >> she seen as not taking -- but all about everybody on the budget. then you have starbucks that found out, you can't move the starbucks in britain, taking away a lot of traditional british tea shops have you starbucks. it has moved in over a third of coffee shops...
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commissioned by the european union revealed earlier this year that there's a fifty nine billion euro deficit in the spanish banking sector any of the details of this developing story as we get it. other world news now south korea says it's looking to reroute all passenger planes over the yellow sea is to avoid any possible conclusion with daybreak from a long range missile that north korea is planning to launch later this month meanwhile japan is deploying missile interceptors saying they're prepared to down the rocket if it poses a threat insists the rocket will take a satellite into orbit but the u.s. south korea and japan claim it's carrying out intercontinental ballistic missile tests. two officers have died in two more injured in northwest pakistan but an explosion hit a police van the vehicle was patrolling the outskirts of the city of peshawar however it's unclear how the bomb was detonated in cities located in pakistan's volatile tribal region is often targeted by taliban militants. but coming up next an exploration on the dangers of living on the outskirts of the u.s. marine bombing
commissioned by the european union revealed earlier this year that there's a fifty nine billion euro deficit in the spanish banking sector any of the details of this developing story as we get it. other world news now south korea says it's looking to reroute all passenger planes over the yellow sea is to avoid any possible conclusion with daybreak from a long range missile that north korea is planning to launch later this month meanwhile japan is deploying missile interceptors saying they're...
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Dec 3, 2012
12/12
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anything on entitlements, would prefer frankly not to have to do anything on some of these debt and deficit problems. if you look at the numbers, then medicare in particular, will run out of money and we will not be able to sustain that program, no matter how much taxes go up. i mean it's not an option for us to just sit by and do nothing. >> that was president obama in the summer of 2011 speaking the hard truths about entitlements. it did not exactly play well for him then and he's been largely quiet on the issue since, perhaps because for both parties talk of cutting social security and medicare hurts a lot. >> there's a pain point that democrats have to reach as well. it's not just republicans. that both sides have to be able to get to the end of this things and say, yes, the president won re-election but there is nobody that gets away with this thing without feeling pain. >> and there are some on the left who hope to get through this without having to go under the knife. adam green, co-founder of the progressive change campaign says -- yesterday on abc's "this week" congressman keith el
anything on entitlements, would prefer frankly not to have to do anything on some of these debt and deficit problems. if you look at the numbers, then medicare in particular, will run out of money and we will not be able to sustain that program, no matter how much taxes go up. i mean it's not an option for us to just sit by and do nothing. >> that was president obama in the summer of 2011 speaking the hard truths about entitlements. it did not exactly play well for him then and he's been...
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Dec 9, 2012
12/12
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as much and the democrats talking about reducing the deficit. not only will the market go down but we'll have a recession. the market will go crazy on the upside. we will have dealt with the biggest uncertainty, not taxes, the deficit. >> going over the cliff, governor won't get that done because then you have the debt ceiling. there's other provisions you have to deal with. it will not get that done. it will cause further issues that will be resolved later on. >> only if the debt ceiling gets carved into it. one is not linked to the other. >> we can be talking about one not linked to the other. if we go over the cliff, we have to reveal the debt ceiling. at that point and time, the question about the debt ceiling is that much more important. it will have to be raised. as a republican, a proud republican, i am willing to sit here and say we probably need to give some on taxes. there's no question about it. this president also needs to give and show real leadership. if he doesn't, if he wants to punish the wealthy or those in the top 1% and say h
as much and the democrats talking about reducing the deficit. not only will the market go down but we'll have a recession. the market will go crazy on the upside. we will have dealt with the biggest uncertainty, not taxes, the deficit. >> going over the cliff, governor won't get that done because then you have the debt ceiling. there's other provisions you have to deal with. it will not get that done. it will cause further issues that will be resolved later on. >> only if the debt...
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he has failed he has not met his targets he's not going to do with the deficit he said the road growth will grow and also there's going to be a huge car made in benefits pavement to some of the poorest people because we are going to suffer the most. and there's no end to this will start now when it's talked about that because we saw that just one percent for the benefit of the welfare bill and that's less than inflation you know that's really going to hit a huge no. book forty seven billion pounds so it will be cut from the benefits bill and we're talking about farmers are really on the bread line anyway even losing twenty pounds is a big hit i mean it's a very cold side and it's very cold prospects for britain's poor because they are going to bear the brunt of the austerity caused by christmas by because of all school doesn't know what he's doing thank you very much for joining us also say there's a lot of course the concern as you said there on picking saying the thing is one thing cutting through all those statistics and that's. going to be said to have to replace it so that even to
he has failed he has not met his targets he's not going to do with the deficit he said the road growth will grow and also there's going to be a huge car made in benefits pavement to some of the poorest people because we are going to suffer the most. and there's no end to this will start now when it's talked about that because we saw that just one percent for the benefit of the welfare bill and that's less than inflation you know that's really going to hit a huge no. book forty seven billion...
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Dec 10, 2012
12/12
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christine lagarde said lawmakers need to address the country's debt, the deficit, and the fiscal cliff and quickly to avoid the uncertainty from affecting the global economy. she suggested a balanced approach, increasing revenue, while also cutting spending. >>> a new survey shows pay for private college prnts continues to climb. they studied data from 2010. it shows medial compensation rose to about $400,000, up nearly 3%. >>> and james bond's fought his way back to the top of the box office. "skyfall" made $11 million. "rise of the guardian" finished a close second with $10.5 million, and in third place, "twilight saga:breaking dawn" part twoer and $9.2 million. i've got to go see that animated christmas film. >> you and jack, that would be a good thing to do. >> "skyfall" kind of going nowhere and then jump back on top, that's kind of a strange move. >> that's james bond. that's no surprise. >> ashley morrison in new york. thanks, ashley. >>> hundreds said their "i dos" sunday. about 150 same-sex couples exchanged vows at seattle city hall. officiating judges who donated their time
christine lagarde said lawmakers need to address the country's debt, the deficit, and the fiscal cliff and quickly to avoid the uncertainty from affecting the global economy. she suggested a balanced approach, increasing revenue, while also cutting spending. >>> a new survey shows pay for private college prnts continues to climb. they studied data from 2010. it shows medial compensation rose to about $400,000, up nearly 3%. >>> and james bond's fought his way back to the top...